Are you planning to start a real estate firm in Thailand? Then we would advise you to know about the real estate laws before you start researching the company registration laws of Thailand.
Thailand’s real estate laws are not significantly different from laws of a comparable nature in other nations. The real estate industry is of great interest to investors globally since it is closely tied to the tourism industry, which is expanding rapidly in Thailand. Nevertheless, the Royal Thai Government places unique limitations on the ownership of land by foreign people and businesses. However, if you are ready to enter the Thai real estate market, contact the Thai Real Estate lawyers of Konrad Legal to get important information and register your business successfully in Thailand.
Real Estate Regulations in Thailand
Thailand’s real estate legislation features a few unique provisions relating to foreigners owning land and homes. These provisions become applicable on the basis of the type of real estate business you want to start in Thailand.
For example, if you are planning to start a real estate consulting group in Thailand, you may not need to acquire any property. All you can do is tie up with Thai real estate agencies and sell your consulting services in collaboration with them. In this case, your only requirement is to set up a consulting agency.
Whereas, if you want to buy and then resale the property in Thailand, you need to crack some tough nuts. It’s worth mentioning that in general, foreigners cannot buy land/property in Thailand. However, there are certain treaty provisions that can enable you to do so. You will need a Thai real estate law firm by your side to make this possible.
On the other hand, Thai law permits foreign companies to own land in Thailand under certain circumstances. Investors can only buy residential land if they can demonstrate that they have contributed more than 40 million baht to the growth of the Thai economy. Acquisition of condominiums in Thailand, which involves sharing a property with other owners, is also open to foreign companies. They can also sign a lease agreement in Thailand for a maximum of three years, after which the contract must be registered with the Thai Land Department.
Further information on the kinds of services that real estate agencies may provide in the context of Thai law is available from our Thai attorneys. Schedule a call now!
Steps to Incorporate Real Estate Firm in Thailand
An investor must abide by Thai business legislation in order to establish a real estate agency. You might also need to recruit local partners as foreign investors so that you can create the articles of organization for your real estate company jointly. In order to reach your clients in the local market, your local partner might be of great assistance in coming up with a suitable name for your business.
For your convenience, we are listing the primary necessary steps for setting up your real estate agency in Thailand:
- Comply with Thai company law
- Find local partners
- Develop Articles of Association
- Reserve a Company Name
- File a Memorandum of Association
- Hold a shareholder meeting
- Complete and submit company registration
- Hire a Thai lawyer
- Consult professional startup consulting firms
In addition to complying with the mentioned steps, you also need to do the following:
- Obtain a Thai Non-Immigrant B Visa
- Get a Thai Work Permit
- Employ Thai personnel
- Have a legit business model that can generate revenue
- Have trustworthy Thai partners with the potential to invest in real estate
In order to know which services you can provide to both domestic and foreign clients, whether businesses or people, you should also be knowledgeable about current real estate legislation.
Please feel free to get in touch with our Thai attorneys to streamline the process of incorporating your real estate company and to learn more about the country’s legal system. Simply email us at [email protected] and our team will get back to you within one Thai working day to assist you to start your real estate firm in Thailand!
